Oracle NetSuite Corporate Communications
Diversified Agricultural Cooperative Replaces Multiple On-Premise Systems and Spreadsheets with NetSuite Cloud as Two-Tier ERP Deployment for Subsidiaries and Joint Ventures in US, Mexico and China
NetSuite SuiteWorld 2012, SAN FRANCISCO—May 16, 2012—NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP software suites, today announced that Land O'Lakes, one of America's premier member-owned cooperatives, has committed to NetSuite OneWorld to eliminate disparate systems, streamline operations, and power international growth. While the corporate headquarters is utilizing Oracle's® JD Edwards EnterpriseOne as its core ERP platform, Land O'Lakes will deploy NetSuite OneWorld for a number of subsidiaries and joint ventures in the United States, Mexico, and China and plans to use NetSuite OneWorld to standardize on a multi-national, multi-currency ERP solution for its domestic and international subsidiaries, and joint ventures. NetSuite OneWorld's flexible and customizable platform is strongly positioned to manage the high transaction volumes in the agricultural industry, and is designed to quickly be scaled to add new users as each subsidiary grows.
Arden Hills, Minn.-based Land O'Lakes was founded in 1921. The company has approximately 9,000 employees, 3,200 producer-members and serves over 300,000 agricultural producers. Besides its well-known dairy foods operations, Land O'Lakes Inc., through its subsidiaries, is the leading feed manufacturer in North America and the number one distributor of seed and crop protection products in the United States. Extending the use of the corporate office's on-premise JD Edwards system, Land O'Lakes needed a cost-effective, flexible, scalable and fast-to-implement solution to support its growth and ensure smooth business operations in a variety of subsidiaries and joint ventures. Looking not only to address short-term operational needs but also to ensure a stable, scalable platform for future growth and expansion, Land O'Lakes turned to NetSuite OneWorld as a two-tier approach to augment its existing corporate software investments in JD Edwards EnterpriseOne.
NetSuite OneWorld is the first cloud software solution to deliver real-time global business management and financial consolidation to mid-sized companies with multi-national and multi-subsidiary operations and divisions of large enterprises. It enables them to automate complex, mission-critical business processes in the cloud from ERP, to CRM, to Ecommerce. NetSuite OneWorld readily handles different currencies, taxation rules, and reporting requirements at a fraction of the cost of traditional on-premise ERP solutions. Land O'Lakes plans to deploy NetSuite OneWorld across several Land O'Lakes' subsidiaries and joint ventures in the U.S., Mexico and China. The world's first multinational cloud ERP solution already translates into 17 languages, supports over 190 currencies and exchange rates, and meets regulatory and taxation compliance for more than 40 countries, which will enable Land O'Lakes to deploy the solution quickly and easily in multiple regions.
"Land O'Lakes' unique cooperative structure makes it important for the company to be accessible and transparent in its operations, complex processes and many tiers of stakeholders," said Zach Nelson, NetSuite CEO. "NetSuite OneWorld can be deployed virtually anywhere, at any time, and offers the levels of visibility and control that are perfect for an organization with such deep and diverse business interests."
"The cooperative is committed to embracing technology to best serve our customers, our partners, and our member-cooperatives," said Mike Macrie, Vice President of IT, Land O'Lakes Inc.
Today, more than 12,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of enterprise-class cloud ERP suites for divisions of large enterprises and mid-sized organizations seeking to upgrade their antiquated client/server ERP systems. NetSuite excels at streamlining business operations, as demonstrated by a recent Gartner study naming NetSuite as the fastest growing top 10 financial management systems vendor in the world. NetSuite has continued its success in delivering the best cloud ERP/financial suites to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud is accelerating.
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Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements relating to expectations, plans, and prospects including expectations relating to the worldwide deployment of NetSuite OneWorld at Land O'Lakes and expected product features of NetSuite OneWorld. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements including, without limitation, the risk that either party decides not to move forward with the implementation or difficulties that could be encountered in deploying a two-tier ERP integration. All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and NetSuite disclaims any obligation to update these forward-looking statements.